what is the difference between MRT and MRS.
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1. MRS is the slope of IC.
1 MRT is the slope of PPC .
2.It is the rate at which a consumer is willing to substitute one good for each additional unit of the other good.
2. It shows that for the production of every additional unit of one good, more and more units of other good has to be sacrificed
3. As we move along the IC ,value of MRS keeps on decreasing.
3. As we move along the PPC, the value of MRT Keeps on increasing.
1 MRT is the slope of PPC .
2.It is the rate at which a consumer is willing to substitute one good for each additional unit of the other good.
2. It shows that for the production of every additional unit of one good, more and more units of other good has to be sacrificed
3. As we move along the IC ,value of MRS keeps on decreasing.
3. As we move along the PPC, the value of MRT Keeps on increasing.
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